<a href="https://www.apartments.com.au/new-apartments/smith-by-valli-collingwood-224-228-smith-street-collingwood-vic-3066">Smith Collingwood</a> is a new boutique apartment development bringing a refined, design-led approach to one of Melbourne’s most established inner-city neighbourhoods.

Designed by <a href="https://www.apartments.com.au/architects/pandolfini-architects">Pandolfini Architects</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/lisa-buxton-interiors">Lisa Buxton</a>, Smith by Valli sits on iconic Smith Street and comprises just 22 residences tailored toward owner-occupiers seeking a more considered style of apartment living.

[smartcode_project:default project_id=140747 project_image_fid=367540]

The design of Smith focuses on a north-facing orientation across all residences, a relatively uncommon feature in dense inner-Melbourne settings. Each apartment has been planned to maximise natural light and outlook, alongside a material palette defined by warm tones, custom joinery, and a full suite of Gaggenau appliances.

The development comprises a mix of one, two, and three-bedroom apartments, with pricing currently ranging from just under $1 million to around $4.85 million for the premium penthouse-level residences, reflecting growing demand for luxury owner-occupier product in Melbourne’s inner urban market.

Residents will also have access to a private rooftop garden designed as an elevated retreat above the city, &nbsp;featuring curated landscaping, veggie boxes, intimate seating areas and spaces for relaxed gatherings. Sustainability has also been integrated into the project through a 7-star energy rating and two secure bicycle facilities for every residence.

[smartcode_project:default project_id=140747 project_image_fid=367529]

Smith by Valli sits in the heart of one of Melbourne’s most established retail and hospitality strips, within walking distance of venues such as Falco Bakery, Carnation Canteen and Alimentari, alongside parks and everyday services. With a Walk Score of 99, the location reinforces the project’s positioning toward buyers prioritising walkability and access over car dependency.

With only a limited number of residences, Smith reflects growing demand for smaller, highly curated apartment developments that prioritise design quality, liveability, and connection to neighbourhood character.

[smartcode_project_cta:default project_id=140747]

Joel Robinson

Smith by Valli delivers a refined collection of luxury residences to Melbourne’s inner north

<a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>’s 640 Bourke Street stands as a testament to&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3000">Melbourne</a>’s ability to bridge its storied past with a bold vision for the future.&nbsp;

Rising above the heritage-listed Eliza Tinsley building, the development reflects a broader shift toward adaptive reuse in the city, where historical assets are retained and reinterpreted as part of new residential development.

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> incorporates the Eliza Tinsley building as its foundation, housing a grand gallery and lobby space that serve as both a functional and symbolic centrepiece. The heritage façade informs the tower’s design, creating a connection between Melbourne’s past and its contemporary skyline.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=365684]

Above this historic base, the 68-storey tower will deliver just over 600 residences, a notable reduction from earlier schemes, reflecting a deliberate move toward larger-format apartments and a stronger owner-occupier focus.

Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.

"The discussion was all around making 640 Bourke Street the best residence to live in, to be much more focused on the people in the building rather than people looking at the building," Marsland explained.&nbsp;

This shift is evident in the development’s interiors, which emphasise practical luxury with spacious layouts, high ceilings, and floor-to-ceiling windows framing sweeping views of Melbourne and Port Phillip Bay.&nbsp;

“What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Lauren Sheldon, Far East Consortium’s Director of Sales and Marketing, said.&nbsp;

[smartcode_project:default project_id=509 project_image_fid=365687]

Rothelowman Associate Jun Chang added, "We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."&nbsp;

Amenities spanning more than 3,000 sqm across multiple levels further reinforce this focus on resident experience. These include a pool, gym, co-working areas, and a range of hospitality-inspired spaces such as a whisky lounge, library, and private dining rooms, many drawing reference from traditional bathhouses and Melbourne’s laneway culture.

"We wanted to make both the pool and the gym area to be absolutely destinational, and when you traverse across to these spaces, there is a gentle familiarity to the beautiful notions of the hammams and the Roman baths, a gentle nod to history," Chang noted.

At street level, the project contributes to the ongoing transformation of the western CBD, with upgrades to Langs Lane and the introduction of retail, hospitality, and gallery spaces designed to activate the precinct and strengthen its connection to the surrounding city fabric.

[smartcode_project:default project_id=509 project_image_fid=365689]

The location places residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market, and the Docklands waterfront, positioning the development within a rapidly evolving inner-city neighbourhood.

"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;

640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.

"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."

One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.

Renders shown are Artist's Impressions correct as of May 2026.

[smartcode_project_cta:default project_id=509]

Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

[smartcode_project:default project_id=146358 project_image_fid=323057]

The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

[smartcode_project:default project_id=146358 project_image_fid=323055]

Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

[smartcode_project:default project_id=146358 project_image_fid=323052]

The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

[smartcode_project_cta:default project_id=146358]

MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

Apartment developers in the Gold Coast are finding new, creative ways to differentiate themselves from competing projects, as new supply starts to flow through up and down the Coast.

Developer BIG Projects brought in the renowned Sydney-based design studio YSG Studio to craft the interiors for The Frederick, BIG Projects' new Mermaid Beach project and YSG Studio's first move into the multi-residential development space.

[smartcode_project:default project_id=110588 project_image_fid=5346]

It was a strategic move for BIG Projects to bring in a Sydney eye to the development.

“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of BIG Projects.

“We wanted YSG Studio to capture the essence of Nobby’s, to design a building that embraces life, light and connection, while creating a genuine sense of place.”

There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;

[smartcode_project:default project_id=110588 project_image_fid=5347]

Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."

“Nobby’s has such an iconic energy, it’s one of those rare pockets of the Gold Coast where the community, the beach, and the streets all feel connected,” Ghoniem says.

"Responding to the neighbouring coastline, soothing curves add a relaxing regional overlay, while unique detailing really sets it apart. It’s a place that feels lived in from the moment you step inside.”

A standout feature of The Frederick is its rooftop terrace, an uncommon inclusion for a boutique, low-rise building, where amenity is typically concentrated at ground level.

[smartcode_project:default project_id=110588 project_image_fid=5360]

Positioned to capture panoramic views from the hinterland to the ocean, the rooftop has been designed as a series of intimate zones. It includes a pool, sauna, sun decks, workspaces and dedicated entertaining areas.

“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.

Architecture for the project was led by Plus Studio, with landscape design by LDG Landscape Architecture.

SRQ Projects Director Nick Clydsdale, who is handling sales at The Frederick, says the majority of enquiry is coming from South East QLD and Victorian buyers who have been actively searching between Broadbeach and Mermaid Beach for some time.

"They’ve reviewed a number of projects, however this one has stood out for its unique detailing and compelling design,"&nbsp;Clydsdale says.

Site demolition is slated for this month, with construction commencing soon after. BIG Projects is targeting a late 2027 completion.

[smartcode_project_cta:default project_id=110588]

Sydney’s YSG Studio makes Gold Coast multi-residential debut with BIG Projects at The Frederick

Melbourne-based property developer ALTA Property has this week achieved planning approval for the adaptive re-use of a former commercial tower into a $200 million, 169-apartment project at 10 Queens Road, one of the last developable sites along the Albert Park Lake-fronting boulevard.&nbsp;

Set within one of Melbourne’s most sought-after precincts and designed by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser and Partners</a>, the illustrious building will offer unparalleled views across Albert Park Lake, Port Phillip Bay and Melbourne CBD.&nbsp;

The mix of 1, 2 and 3-bedroom residences will be complemented by a ground-floor amenity featuring private dining, a lounge bar, gym and wellness spaces, co-working, outdoor communal gardens, and retail.&nbsp;

The 17-storey building is a masterclass in adaptive re-use, with the existing commercial building’s façade, shell and internal structure to be retained, before high-end residences are built from the ground up in a newly built Albert Park facing addition to the building.&nbsp;

Sitting atop the building will be two 320+sqm penthouses with private rooftop terraces, which are expected to be priced between $9 - $11 million.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="aa11211b-5581-43f9-940c-fc84d30a0e61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/C_04.png?VersionId=Yhf5p_1EgGDu_zOIMFgvA8Ug8j3sTFQs" />

Architecturally, the building will feature a curved, geometric façade that celebrates and elevates the existing structure, with warm, muted tones which were selected to extend the materiality of the existing building rather than contrast it.&nbsp;

Interiors will bring together three metre high ceilings with waffle concrete in some spaces, natural timber, granite and Australian materials, culminating in crafted, generous and considered spaces that are defined by authenticity.&nbsp;

The adaptive re-use means that the Queens Road project will be a sustainability led, high-quality finished product, with a 62% saving in carbon emissions by re-using the existing structure rather than knocking it down and rebuilding.&nbsp;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

Melbourne’s property market growth is currently led by apartments. According to RPM VIC Apartments &amp; Townhomes Market Report (April 2026), units are outpacing houses, especially in the middle ring suburbs where median prices hit $757,500 – a four-year high that represents 2.9 percent growth quarter-on-quarter.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="647e13d7-b4bc-433a-9bc9-fe3c3dd4f2ec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/V_06.png?VersionId=ou4NUCWUgA3NAy.6CQJlEdKX50j3dOk6" />

For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"With a considered project team and a premier site along one of the city’s most sought-after boulevards, we look forward to contributing to the fabric of this established address.

“Other Australian markets are getting a lot of attention, but I believe the depth of value in Melbourne is being overlooked. The fundamentals are strong, population growth is steady and, based on our preliminary conversations with a leading builder, construction costs are beginning to normalise, creating further opportunity."

Givoni says the project is a&nbsp;highly considered example of adaptive re-use, delivering quality, high-end residences, premium hotel-inspired amenities and an architecturally striking façade, all achieved without the need to remove the existing structure.

"We are really looking forward to the market’s response,” he said.&nbsp;

ALTA Property to deliver $200 million Queens Road apartment tower

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

<html><body>
Renewal SA has a number of industrial projects predominantly situated to the north and south of the Adelaide CBD, according to the latest report from Herron Todd White.
SA Renewal works to promote investment in the state through private sector access to government land holdings.
Projects include the Grand Trunkway Estate and Port Direct developments to the north-west of the CBD and close to Port Adelaide, Edinburgh North to the outer north, Tonsley to the south and Seaford to the outer south. 
The Grand Trunkway Estate is a General Industry zoned development of 15 hectares and has strong transport links to the Outer Harbour, Interstate Main Rail Line and the Port River Expressway.
The valuers noted that Renewal SA has also retained land for further stages and to accommodate occupiers with larger land requirements such as. 
Further north-west is the Port Direct development of 27 hectares which has access to the Outer Harbor import/export facilities and to the facilities within the Naval Shipbuilding Precinct which is within 1.2 kilometres. 
The Northern Adelaide Food Park at Edinburgh North is proposed to be the state’s premier food manufacturing precinct.
The site was previously earmarked for the Parafield Airport, however concerns from tenants and purchasers relating to the ownership of the land have caused the government to reconsider.
The Seaford Industry Park project commenced in 2004 with the aim to support food and wine businesses with links to McLaren Vale.
The development is zoned General Industry and aims to support the fast-growing suburbs south of the Adelaide CBD. 
Tonsley, the former Mitsubishi Motors assembly plant, is in the process of being completely re-developed into a mixed-use district with residential, high-value manufacturing and commercial allotments.
The Main Assembly Hub, an 80,000 square metre warehouse, has been adapted for re-use as the centre of Tonsley’s social activity and features shops, cafes, services and facilities.
The General Motors Holden site of approximately 122 hectares at Elizabeth (north of the Adelaide CBD) is reportedly under contract to an interstate developer with a large portion of the site to be transformed into an innovative business park.
The report indicates that Holden will retain a significant portion of the site as a spare parts operation and the history of the site will also be recognised with a proposed heritage and hospitality centre.
However the above developments are not considered to be situated within prime industrial locations the valuers noted.
The premier industrial precinct within Adelaide is Regency Park, which is partly due to its proximity and ease of access to major transport routes.
"The North-South Corridor is integral to the delivery of the 30-Year Plan for Greater Adelaide," it said.
"At present, there are a number of stages and ongoing works underway for the project, spanning some 78 kilometres between Old Noarlunga and Gawler which include a series of strategic non-stop links to connect the expanding industrial and residential growth areas."
Herron Todd White Research and M3 Property Research have seen yields within well located, prime industrial locations tighten.
Their research indicates prime industrial yields across all precincts are typically between 7.75% and 8.75%, whilst secondary yields are between 9% and 9.75%.
Market reports indicate that owner-occupiers have become a prominent purchaser group since the progressive phase-out of stamp duty in South Australia from 1 July 2016.
This, as well as the relatively low and competitive interest rates, has benefited purchasers and the valuers forecast it will continue to do so in the near future after the full abolishment at the end of the 2017/18 financial year.
</body></html>

j.ballantyne1990-6AQqhLzZaK

SA Renewal industrial projects underway in Adelaide: HTW 

<html><body>
A modern Bunnings anchored retail complex in Norman Gardens, near Rockhampton, has hit the market through Savills.
Bunnings only moved into the <a href="http://commercialpropertysearch.savills.com.au/7972985e-4a71-e911-80d9-005056813885/Sale/Norman-Gardens/540-Yaamba-Rd" target="_blank">Yaamba Road property</a> in 2017. It is better known as being the old Masters Home Improvements site.
The 2013 developed complex has a long lease to Bunnings until 2030 with options to 2078.
Bunnings occupy over 76% of gross lettable area.
It is the only Bunnings in the area supported by a freestanding retail building which is currently tenanted to Autobarn, Freddy's Fishing World &amp; Outdoors and Petstock.
The whole complex fully tenanted brings in over $2.6 million per annum.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/19/Bunnings1.jpg" alt="">
There are 448 car parking spaces on the property, 108 under shade sails.
It is located seven kilometres from the Rockhampton CBD and sees 25,900 vehicles pass daily, around 9.4 million annually.
Savills agents Peter and Jon Tyson have the listing. 
The Tysons sold <a href="/expert-insights/investing/former-bunnings-rockhampton-warehouse-up-for-grabs-after-relocation">Bunnings' former premises down the street</a> just last year.
The 7,660 square metre building was sold for nearly $39 million.
It was sold in August 2018 and is now known as Red Hill Homemaker Centre which comprises over 25 retailers and a 500 space car park.
The likes of Harvey Norman, The Good Guys, Australia Post and Intersport have all moved in to the building, with tenancies still available through Knight Frank Rockhampton.
“The building would be readily adapted for reuse, with options including certain retail, large format retail or bulky goods uses, vehicle and outdoor sales, industry and self-storage uses," Tyson said before its sale.
</body></html>

jonathanchancellor-7SQnKwU6yx

New Norman Gardens Bunnings building to be sold

<html><body>
The national level of homelessness increased by 14% from 2011 to 2016, with the increase most pronounced in NSW, up 37% to 37,715 persons. 
In 2008, the Federal government committed to an ambitious strategy to halve national homelessness by 2020.
But as successive governments regrettably abandoned the 2008 strategy and commitment, homelessness in Australia has been on the rise.
There are several levels of homelessness, but concerningly the numbers sleeping rough have been growing even faster.
This, the most visible and distressing form of homelessness, grew nationally by 20% between the 2011-2016 Census periods.
Academics point to policy failures within these trends. These include social security system changes, such as shifting welfare benefit recipients onto lower payments with more conditions of eligibility.
This week the Daily Telegraph reported one in 10 homeless people sleeping rough in NSW is a military veteran who has failed to get help from the Department of Veterans’ Affairs.
These and other policy failures have been critical in a housing market where, by international standards, subsidised social housing provision is minimal.
The geographical pattern of the homeless surge confirms the housing market is in part driving these changes.
An Australian Housing and Urban Research Institute (AHURI) report found increases in homelessness have generally been much more rapid in capital cities. Non-metropolitan areas have recorded much lower growth rates, or even reductions.
So, overall numbers were up by 53% in inner Sydney suburbs (2011-2016), but rose by a more modest 21% in Hobart, and fell in remote South Australia and Western Australia.
The vast majority of Australia’s lower-income population depend on an increasingly stressed private rental sector where the stock of low-cost homes is dwindling.
ABS statistics show the proportion of low-income tenants in rental stress has risen from over the past decade in New South Wales from 43% to 51%. 
Despite these stark trends, recent Australian governments, while footing the bill for homelessness services, have presided over cuts in social and affordable housing. An increasingly underfunded social and affordable housing system leads to a burgeoning cost of emergency services for those lacking homes. On its current path, the cost is set to exceed $1 billion by 2020.
Of course, mental health and homelessness are strongly associated. Some 30% of Specialist Homelessness Services (SHS) consumers had a current mental health issue, according the Australian Institute of Health and Welfare in 2018.
Academics noted this is significantly higher than the rate of mental illness among the general population of 16%. Mental ill-health captures issues, including schizophrenia, bipolar disorder, major depression, post-traumatic stress disorder, and obsessive compulsive disorder.
The interplay between mental health and housing pathways is the subject of a current national study being undertaken by Mind Australia and the AHURI.
It aims to identify failure points in the housing and mental health systems—failure points represent missed opportunities for early intervention and are potential key points for system improvement. A 2016 study found the significant share of rough sleepers with a mental health issue are not receiving any treatment, and their homelessness perpetuates their mental health issues.
The long term structural trends in the Australian housing system - falling rates of home ownership, an increase in private rental, declining stocks of social housing and lack of affordable housing for low-income households—combine as the backdrop in the housing issues facing the homeless.
This article first appeared in The Daily Telegraph. 
</body></html>

jchancellor-FAypfDUnLy

Homelessness: Australia's policy complacency continues

<html><body>
GUEST OBSERVATION
Official results show that 2018 was one of the strongest years on record for population growth, with the number of people living here rising by 404,780 during the year. 
This reinforces the need for state and territory governments to work with the Federal Government to implement microeconomic reform measures that will support the fast tracking of congestion busting infrastructure projects and more efficient planning, tax and red tape cutting regimes to support an increase in new housing construction.
ABS data indicates that Australia’s population rose by 1.6% over the course of 2018. Net migration from overseas accounted for about 250,000 additional residents while the excess of births over deaths added 156,000 to the population. 
There is a very strong linkage between inward migration to Australia and the pace of job creation. The 270,000 increase in total employment during 2018 is very similar to the figure for overseas migration. 
Population and jobs growth drives construction activity right across the spectrum including for residential, offices, shops, schools and hospitals – not to mention all of the support infrastructure needed.
Australia’s building sector is currently facing challenges in the form of weakening economic growth and difficulties around access to finance in some parts of the market.
Fast tracking the rollout of previously announced government infrastructure projects would help strengthen confidence on the ground in addition to meeting the needs of a growing population.
Master Builders estimates that between 193,850 and 201,705 new homes will need to be built each year over the coming two decades to accommodate future growth. Failing to do this will surely result in home ownership becoming an even more formidable quest for our younger generations.
Given that we managed to build just 173,350 dwellings per year over the past 20 years, the onus is on all tiers of government to lift their game and ensure that land supply, planning policy and taxation settings are more conducive to the delivery of the homes and buildings we will require.
During 2018, the fastest rate of population growth was in Victoria (+2.2%), followed by the ACT (+1.8%) and Queensland (+1.8%). More modest growth was recorded in NSW (+1.6%) and Tasmania (+1.2%). 
Particularly challenging economic conditions in the NT contributed to a 0.4% decline in its population during 2018. Population growth was quite modest in South Australia (+0.8%) and Western Australia (+0.9%).
SHANE GARRETT is Master Builders Australia’s Chief Economist.
</body></html>

Strong population growth reinforces need for economic reform: Shane Garrett

<html><body>
EXPERT OBSERVER
Regional Victoria remains a stand-out market on price performance, although the two latest quarterly surveys conducted by Hotspotting indicate that sales activity overall is not as strong as 2018. 
Some of the key markets have passed their peaks in terms of buyer demand, although other locations are now rising.
In our Winter survey of sales activity, we have identified 22 markets with rising buyer demand, down from 29 in the Autumn survey and a significant reduction on the 51 in the Summer survey. This is primarily because the two growth leaders of the past couple of years, Geelong and Ballarat (pictured above), have passed their peaks in terms of sales activity.
Other recent growth markets appear to have moderated also, including Cardinia Shire on the south-eastern fringe of Melbourne, where Pakenham and Officer have recorded a significant decline from the previous peak levels of sales activity. But new growth markets are appearing.
We have previously declared Regional Victoria to be the strongest market in the nation. Most of the growth markets that have inspired that assessment have been locations within commutable distance of the Melbourne metropolitan area. Now growth markets are being found in locations more distant from the state capital, including Wodonga, Wangaratta, Port Fairy and Portland.
But the No.1 market continues to be Bendigo. It has overtaken Geelong and Ballarat, based on the number of suburbs with rising sales activity.
Bendigo now has eight suburbs with increasing demand, as well as numerous others with steady sales performance. Growth suburbs include Golden Square, Kangaroo Flat, Kennington, Long Gully, Maiden Gully, White Hills and North Bendigo. Quarterly sales in the suburb of Epsom have grown from 20-25 two years ago to 35-40 more recently. Its median house price ($355,000) is typical of pricing in Bendigo, one of the strongest regional cities of Victoria.
Wangaratta (median house price $315,000) has emerged as a market where sales demand has grown steadily over the past two years. Quarterly sales have risen from 80-85 two years ago to around 120 more recently. Its median price has risen 13% in the past 12 months.
Further north at the NSW border, Wodonga (median $340,000) presents as a solid market with growing strength.
In the western areas of the state, both Port Fairy and Portland have had steady increases in quarterly sales. Portland’s quarterly sales pattern of 33, 41, 45, 48, 48, 52, 76, 86, 77, 79, 95, 90 and 101indicates a market that has grown steadily over the past three years, with its median price up 5% to $240,000 in the past 12 months. Port Fairy’s median has increased 7% to $600,000 in the past year.
Geelong has been Victoria’s strongest real estate market in recent years. However, our Winter survey has found only two rising suburbs in terms of sales activity but 20 plateau suburbs, which means sales have tapered off below the former peak levels. There’s a similar trend in Ballarat: it has two rising suburbs, but 11 plateau suburbs and six consistency markets.
Despite being passed their peaks in terms of buyer demand, both Geelong and Ballarat are still delivering significant price growth: 17 suburbs of the City of Greater Geelong and nine in the Ballarat LGA have had double-digit growth in their median house prices in the past year.
A number of Regional Victoria markets have had median price growth above 20% in the past 12 months. Five of them are Geelong suburbs – Indented Head, Mt Duneed, Newcomb, St Leonards and Whittington. Big growth has also occurred in Mt Pleasant and Wendouree, suburbs of Ballarat, as well as Cowes and Wonthaggi in the Bass Coast LGA. 
But the No.1 location in Regional Victoria for annual median price growth is Loch Sport in the Wellington LGA, up 30% in the past 12 months.
Four towns in the Macedon Ranges LGA had recorded double-digit increases in their median house prices, including Woodend which rose 21%. But our Winter survey confirms that this area has peaked in terms of sales activity. It’s a similar story with the Mitchell LGA, where towns like Beveridge, Broadford, Kilmore, Seymour and Wallan have attracted strong buyer interest in the past two years.
Overall, Regional Victoria has been an outstanding performer on price growth, arguably the best in the nation, in the past 12 months. We have analysed price performance for 140 towns and suburbs and found that 89% have median house prices higher than a year ago. Two-thirds of Regional Victoria locations have risen by more than 5%. 
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
</body></html>

terryryder-YECXbqmri2

Regional Victoria remains stand-out market, but sales activity drops: Hotspotting's Terry Ryder

<html><body>
Sentinel Property Group has splashed out $103 million on a Brisbane CBD office building - the largest acquisition in its history.
The unlisted real estate investment trust (REIT) bought the building on a net passing yield of 7.85%.
Makerston House at 30 Makerston Street, Brisbane is on an approximately 1,796 square metre site area with about 14,640 square metres of net lettable area over 14 levels.
It is located opposite the Queensland Police Service headquarters and 50 metres from the Brisbane Transit Centre.
The building has a 5 Star NABERS Energy rating and is 100% leased with a 4.63 year weighted average lease expiry (WALE).
The property is leased to the Queensland Government as well as various state government corporate entities.
The building is well positioned within the city, Sentinel Property Group Managing Director Warren Ebert said.
 “This is a fantastic acquisition for Sentinel and is our biggest purchase since the Group started 10 years ago,” Ebert said.
“Makerston House is a tremendous asset that is in the heart of a precinct accommodating the state’s critical legal infrastructure and services, including the Queensland Supreme Court and District Court and the Brisbane Magistrates Court.
“The building is opposite the Queensland Police Headquarters and just 50m from Roma Street Train Station, the only existing CBD railway station that will link to the high capacity Cross River Rail.”
Ebert said Sentinel was excited to make Makerston House the 10th addition to the Sentinel Regional Office Trust.
The Sentinel Regional Office Trust also comprises 11 Argyle St, Newcastle, The CasCom Centre at Casuarina in Darwin, 200 Creek St, Brisbane, 8 Buller St, Port Macquarie, Jacana House and Arnhemica House in Darwin, 139 Grafton St, Cairns, and Central Plaza and River Quays in the Townsville CBD.
</body></html>

Sentinel secures Makerston House in Brisbane CBD for $103 million

<html><body>
New tenants are signing up in Sydney’s Moorebank industrial precinct.
More than 135,000 square metres of space in the precinct has been taken up over the past 12 months, CBRE said.
The group said its industrial and logistics team had represented Goodman, an industrial property developer, in leasing approximately 90,000 square metres in the area.
Briggs &amp; Stratton, an American manufacturing group, signed a five-year lease on a brand-new facility spanning 14,500 square metres at the Oakdale South Industrial Estate.  
Aidacare and Permaform have both relocated from other spaces to the former Briggs &amp; Stratton facility on initial five-year terms, with a NLA of 11,443 square metres.  
Rentals in the Moorebank industrial precinct range from approximately $115 - $130 per square metre per annum, CBRE advised.
The recent uplift in tenant activity in Moorebank was being driven by large scale vacancy becoming available in 2018, CBRE’s Tom Rourke said.
“With the IMEX intermodal set to be operational by the second quarter of this year – creating a direct connection and between Port Botany and MLP via a dedicated freight line – many logistics companies are seeing MLP as a gamechanger in the market,” Rourke said.  
“MLP provides a considerable cost advantage over some other industrial precincts such as Botany and Matraville.
“Furthermore, there is also potential for Moorebank to evolve into a last mile location given the reduced truck congestion on the M5 and completion of WestConnex, which will reduce metro delivery times to bring MLP more in line with more established last mile locations such as Homebush and Chullora.”
</body></html>

Sydney’s Moorebank industrial market attracting new tenants

<html><body>
EXPERT OBSERVER
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
The latest data from the Australian Prudential Regulation Authority (APRA) on property exposures data from authorised deposit-taking institutions (ADIs) shows that the tougher lending policies of recent years continue to reduce mortgage risks. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/21/new-mortgage-annual-change.jpg" alt="">
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
Over the March 2019 quarter, APRA reports that there was $72.395 billion in residential mortgages to households, which was -17.9% lower than the previous quarter and down -16.5% on the March 2018 quarter. 
As the chart shows the value of lending to investors and owner-occupiers is falling. 
Over the quarter the value of lending to owner-occupiers was -17.6% lower and it was down -15.2% year-on-year. Lending to investors was -18.7% lower over the quarter and -19.6% lower year-on-year. 
</div>
</div>
</div>
</div>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/21/value%20and%20share%20change.jpg" alt="">
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
The heightened level of interest-only lending has been seen as a key risk in the market and new interest- only lending has fallen over the quarter both on a value and share of total basis. 
Over the quarter there was $10.785 billion in interest-only lending which was the lowest on record. 
As a share of total lending, interest-only was also at a record low of 14.9% which is a far cry from its peak at 45.6% in June 2015. 
As a proportion of the total portfolio of outstanding loans, interest-only now accounts for a record low 23.3% which is down from a peak of 39.5% in June and September 2015.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/21/quartlery%20new%20lending.jpg" alt="">
<div class="page" title="Page 2">
<div class="section">
<div class="layoutArea">
<div class="column">
Interest-only lending isn’t the only area in which there has been a reduction riskier lending. The value of low documentation loans, other non-standard loans and loans approved outside of serviceability all fell over the quarter in terms of both value and their share of total lending. 
In fact at 0.1% of total lending over the quarter, both other non-standard loans and low documentation loans were at an historic low share of mortgages while the 4.3% of loans that were approved outside of serviceability was the lowest share since December 2017.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/21/new%20lending%20LVR.jpg" alt="">
<div class="page" title="Page 2">
<div class="section">
<div class="layoutArea">
<div class="column">
While most areas of riskier lending recorded a reduction over the quarter, there was a slight increase in the share of new mortgages written with a loan to value ratio (LVR) of more than 80%. Over the quarter there was $15.772 billion worth of new mortgages with an LVR of more than 80%. 
Although that was the lowest value on record, that is more a function of reduced overall demand for mortgages. The share of mortgages with an LVR in excess of 80% was recorded at 21.8% over the quarter which was its highest share since March 2017. The share of higher LVR loans is still well below its peak of 37.6% in March 2009 and most new borrowers have more than 20% equity in the property they are purchasing. 
Nevertheless, it is a little surprising that given the current tight credit conditions and falling dwelling values that there is an increased willingness to lend to borrowers with less than a 20% deposit. 
Overall, the data reflects the ongoing improvements in mortgage quality and the shift towards reducing the build-up of risk in the mortgage market. We would expect the current conditions to continue over the next quarter. Thereafter it will be interesting to see what happens given that there has been an interest rate cut and it looks as if APRA will be relaxing some of the serviceability limits in place on mortgages. 
On the other side of things, comprehensive credit reporting is being implemented which is likely to mean even more scrutiny on borrowers debts and subsequently increased pressure on lenders to write high quality mortgages. 
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
CAMERON KUSHER  is the head of research for the Australian branch of CoreLogic
Kusher regularly posts on the <a href="https://www.corelogic.com.au/news" target="_blank">CoreLogic website</a>.
 
</div>
</div>
</div>
</div>
</body></html>

ckusher-ujnxiKuFQs

Lenders continue to reduce the risks in their mortgage books

<html><body>
Three bidders from a crowd of 100 plus pushed the price of a multi-tenancy retail investment at Malvern to more than $400,000 over the vendor’s reserve at a Teska Carson auction. 
According to selling agents, Teska Carson directors Matthew Feld and Michael Ludski, the RBA’s move to cut interest rates, with another in the offing, has sparked a return of confidence to retail strips. 
Mr Feld said,“there is no doubt that the interest cut and forecasts of more have driven renewed interest in bricks and mortar and particularly for the old favourite strip retail investments.  
“The amount of enquiry we had on this property and the crowd it drew on the day underscored just how much confidence has returned to the market following the election, the retention of negative gearing and capital gains benefits, APRA’s easing of loan requirements, and now the rate cut,’’ Mr Feld said.  
Located within a tightly held retail and commercial precinct, the 150-154 Glenferrie Road property sold on a 4 per cent yield to net market rent. 
The two storey, double-fronted building was sold subject to leases to ANZ Bank (7 years), Sushi Gallery, and JT’s CrossFit Training Studio, returning a combined $311,000 per annum net. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/13/150-154%20Glenferrie%20Rd%20sale.jpg" alt="">
The building sits on a 560 square metre site, zoned Commercial 1, with 14 metres frontage to Glenferrie Road and rear access to on-site parking for up to six cars. 
Mr Ludski said the property had presented an opportunity for investors to gain a foothold within the popular strip.  
“Glenferrie Road, Malvern, is a well-known and strongly performing retail precinct, home to many national tenants including Coles, David Jones and Woolworths, and many specialty and boutique retailers.  
“The property offered a great opportunity to break into that highly regarded and tightly-held market in an area which will continue to see strong capital growth on the back of continued residential and commercial development,’’ Mr Ludski concluded.
</body></html>

100+ crowd drives $6.8 million sale price at retail auction in Malvern

<html><body>
Two cottages that have been restored for commercial use in Granville are being offered to the market. 
The listing is held by Victor Sheu, Raymond Ahsan and Robert Dowby from CBRE Western Sydney. 
Zoned B4 Mixed Use to suit various commercial usages (STCA), the two cottages at <a href="https://www.realcommercial.com.au/property-land+development-nsw-granville-503201874" target="_blank">70-72 Railway Parade</a> features a total 273 sqm of floor area including 153 sqm Lot 9 and 120 sqm Lot 10. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/19/granville%202.jpg" alt="">
The freshly restored cottages come with internal bathroom and full kitchen facility, ducted air-conditioning, as well as data cabling and powerpoint provision. 
It is situated just 200 metres to Granville Station and town centre, offering the opportunity to invest or occupy a prime location.
The expressions of interest campaign ends June 25.  
</body></html>

Latest Investing Insights

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News